Hong Kong-headquartered intelligent logistics firm Jumppoint has successfully raised US$6.5 million in its recent Series A funding round led primarily by MindWorks Capital.
Jumppoint is an intelligent logistics startup based in Hong Kong founded in 2020 by industry innovator and serial entrepreneur, Samson Ho. The firm leverages its proprietary artificial intelligence (AI) technology and real-time algorithm-generated data to optimise product transportation and distribution services for businesses around the globe.
Jumppoint recently completed its successful Series A funding round, procuring US$6.5 million. Hong Kong venture capital firm, MindWorks Capital, primarily led the financing with participation from Headline Asia, Chinachem Group, Philip Kuai- the Founder of Dada Nexus, as well as the Innovation and Technology Venture Fund (ITVF) of the Hong Kong Government.
The sum raised will be strategically deployed to strengthen its operations locally, and further aid its expansion plans across Southeast Asia, mainly targeting Thailand, Singapore, and Malaysia.
The Founder and CEO of Jumppoint Samson Ho, commented, “This funding will allow us to further invest in our technology and bring even more value to our customers.”
Jumppoint handles over 200,000 monthly orders, overseeing operations from its 400,000 sq ft warehouse space. Its rapidly expanding customer base has propelled the company’s year-over-year growth by over 300%, putting it right on track to meet its profitability goal for Q3 this year.
The firm’s highly-integrative route planning and demand prediction engine have increased its logistics capabilities, offering a cost-efficient solution for companies in the region, allowing them to cut over 40% of their delivery expenses.
“Jumppoint has a strong track record of delivering exceptional service to its customers, and we are confident in the company’s ability to continue driving growth and innovation in the logistics industry,” the Capital Director of MindWorks, Cassidy Wong added.
With the procurement of new funds, Jumppoint aims to elevate its rank within Hong Kong’s logistics market, and spearheads its expansion across the Southeast Asian region.